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Finance Committee reviews FY2025 year‑end financial report showing preliminary $21M fund‑balance drawdown
Summary
CFO presentation to the Finance Committee noted preliminary year‑end adjustments that reduce the county fund balance by about $21 million (from $2.91B to $2.70B), driven by unfavorable revenue and expenditure variances and reallocation to project funds; auditors and actuary work remain pending.
Oakland County’s CFO presented the fourth-quarter FY2025 financial report and recommended quarterly budget amendments, telling the Finance Committee that numbers are preliminary while year-end journal entries and actuary reports are completed.
Staff said the preliminary impact on fund balance is an approximate…
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